Transitional properties hold immense hidden value for real estate investors and appraisers. These properties, often overlooked or undervalued, have the potential to generate substantial returns when their highest and best use is identified. Understanding the core principles behind transitional properties, including legal, physical, and financial feasibility, is key to maximizing their value. A transitional property […]
A residential appraisal report provides more than just a single final number; it offers a comprehensive analysis using three key methods to establish a “range of value.” The most important method is the Sales Comparison Approach, where an appraiser adjusts the sale prices of similar properties (“comps”) to account for differences. The Cost Approach (estimating
Written in mid-2019, this article forecasts that the U.S. housing market, after years of rapid price growth, would begin to cool down heading into 2020. While strong fundamentals like low mortgage rates, low unemployment, and a wave of Millennial buyers were supporting the market, the primary challenge was a widespread affordability crisis in major cities.
Green features like solar panels demonstrably add value to properties, primarily through long-term energy savings and tax incentives. However, this value is often not reflected in an appraisal. This discrepancy occurs because appraisers rely on comparable sales, and there is often a lack of “green” comps in the market. Additionally, some appraisers lack specialized training
An estate appraisal, also known as a “date-of-death” appraisal, is essential for settling an estate in Massachusetts. This is a retroactive valuation where a professional appraiser determines the property’s fair market value as of the date the owner died, not the date of the inspection. This unbiased, defensible report is legally required by the probate
In a Massachusetts divorce, a formal appraisal of the family home is crucial and almost always required by a judge to establish its fair market value for the property settlement. This unbiased value is used to determine the “buyout” amount if one spouse keeps the house or to set a fair listing price if the
Market Value is the most common goal of an appraisal, but it’s an opinion of value, not a fixed price or fact. It’s based on a specific set of theoretical conditions, including a well-informed buyer and seller acting without duress and the property having reasonable market exposure. Because real-life sales don’t always meet these conditions
In a stabilizing real estate market, a formal appraisal is a critical tool for income property investors to evaluate their equity position and decide on the most profitable exit strategy. While investors can get a rough estimate of value using the Income Approach (NOI / Cap Rate), a professional appraisal provides the certainty needed to
In appraisals, the Sales Comparison Approach is fundamental. To compare properties, appraisers break down sale prices into units of comparison (e.g., price per square foot, per acre, or per room) that reflect how the market values that specific property type. They then analyze elements of comparison (like location, condition, and market demand) and apply adjustments.
Since 2015, Boston has repeatedly tried to pass “just cause eviction” laws to protect tenants amid soaring rents and redevelopment, but these efforts have consistently failed in the state legislature due to strong opposition from landlords who view them as a first step toward reenacting rent control (which was banned in MA in 1994). The
